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Reasons For Biafra Nigeria is regarded as the giant of Africa, because is the Most populated Country in Africa. The country is rich in crude oil, and she is among of the top richest oil producing country in the world.(  The Top Oil Producing Countries In The World ) Nigeria should be among the richest countries in world. Don't you know most of these top oil producing countries are the richest countries?(  Richest Countries In The World ) Why not Nigeria ?Do you want to know Why ? If yes, Grab a glass of wine and read on Between the time Nigeria discovery oil and when she newly gained independence, Nigeria Economy was the best in the whole wide world. The value of naira was very high. Nigeria Naira was the highest currency in the world. As at that time N1 is equivalent to $1. The Nigeria Economy was really booming and because of it booming, she was made to host Fastac ( festival of art and culture. As at that time, Nigeria was just Like all these top countries (United Sta